Consumers Break Out the Credit Cards in May

July 8, 2013
USA Today 
credit card news

A new report from the Federal Reserve shows an 8.3 percent annualized gain in consumer credit to a seasonally adjusted $19.6 billion in May, indicating a rise in consumer confidence as the job market picks up steam. Non-revolving credit, including student loans and car loans, edged up to $1.98 trillion from $1.97 trillion in April. Credit-card debt and other revolving credit, meanwhile, posted an annualized gain of 9.3 percent from $849.9 billion in April to $856.5 billion in May.
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